Free Essays on Time Value Of Money

Understand the Time Value of Money The most basic law in finance! The time value of money states that a dollar today is worth more than a dollar at some time in the future. Okay, it’s not that simple to understand at first glance so let me delve into this advice a little with some financial examples: If I invest $1,000 in a 5% savings account today, it will be worth $1,050 in one year. Therefore, if I can have $1,000 today or choose to have $1,000 one year from now, it is always better to have the money now. By saving and investing today, you make the time value of money work for you. Let’s look at the reverse of this, to see how the time value of money can work against you. Suppose instead of receiving $1,000 that you spent $1,000 by purchasing merchandise on your credit card. Remember that a dollar today is worth more than a dollar tomorrow, so in this case, you will have lost money because you will need to pay off your credit card account with money from the future (which is worth less than money today). In addition to having to pay with future money, you will also have to pay interest expense. So, in this case, if you paid off the credit card in one year (assuming 15% interest), you’d have to pay $1,150. You should think about the time value of money before making any decisions. Another, maybe even more important concept related to the time value of money is the compounding effect of money. The next rule is to understand the compounding effect of money: Understand the Compounding Effect of Money The compounding effect of money is extremely important when making any financial decision. The compounding effect of money is often overlooked or underestimated by people when making decisions. When applied to all of your financial decisions, this effect is the KEY to long-term success! To illustrate the compounding effect of money, let me use some financial examples: Suppose you had invested $1,000 today in a 5%... Free Essays on Time Value Of Money Free Essays on Time Value Of Money Understand the Time Value of Money The most basic law in finance! The time value of money states that a dollar today is worth more than a dollar at some time in the future. Okay, it’s not that simple to understand at first glance so let me delve into this advice a little with some financial examples: If I invest $1,000 in a 5% savings account today, it will be worth $1,050 in one year. Therefore, if I can have $1,000 today or choose to have $1,000 one year from now, it is always better to have the money now. By saving and investing today, you make the time value of money work for you. Let’s look at the reverse of this, to see how the time value of money can work against you. Suppose instead of receiving $1,000 that you spent $1,000 by purchasing merchandise on your credit card. Remember that a dollar today is worth more than a dollar tomorrow, so in this case, you will have lost money because you will need to pay off your credit card account with money from the future (which is worth less than money today). In addition to having to pay with future money, you will also have to pay interest expense. So, in this case, if you paid off the credit card in one year (assuming 15% interest), you’d have to pay $1,150. You should think about the time value of money before making any decisions. Another, maybe even more important concept related to the time value of money is the compounding effect of money. The next rule is to understand the compounding effect of money: Understand the Compounding Effect of Money The compounding effect of money is extremely important when making any financial decision. The compounding effect of money is often overlooked or underestimated by people when making decisions. When applied to all of your financial decisions, this effect is the KEY to long-term success! To illustrate the compounding effect of money, let me use some financial examples: Suppose you had invested $1,000 today in a 5%...

Edwin V. Sumner - Civil War - Union - Major General

Edwin V. Sumner - Civil War - Union - Major General Edwin V. Sumner - Early Life Career: Born January 30, 1797 in Boston, MA, Edwin Vose Sumner was the son of Elisha and Nancy Sumner. Attending the West and Billercia Schools as a child, he received his later education at the Milford Academy. Pursuing a mercantile career, Sumner moved to Troy, NY as a young man. Quickly tiring of business, he successfully sought a commission in the US Army in 1819. Joining the 2nd US Infantry on March 3 with the rank of second lieutenant, Sumners commissioning was facilitated by his friend Samuel Appleton Storrow who was serving on the staff of Major General Jacob Brown. Three years after entering the service, Sumner married Hannah Foster. Promoted to first lieutenant on January 25, 1825, he remained in the infantry. Edwin V. Sumner - Mexican-American War: In 1832, Sumner took part in the Black Hawk War in Illinois. A year later, he received a promotion to captain and transferred to the 1st US Dragoons. Proving a skilled cavalry officer, Sumner moved to Carlisle Barracks in 1838 to serve as an instructor. Teaching at the cavalry school, he remained in Pennsylvania until taking an assignment at Fort Atkinson, IA in 1842. After serving as the posts commander through 1845, he was promoted to major on June 30, 1846 following the beginning of the Mexican-American War. Assigned to Major General Winfield Scotts army the following year, Sumner took part in the campaign against Mexico City. On April 17, he earned a brevet promotion to lieutenant colonel for his performance at the Battle of Cerro Gordo. Struck in the head by a spent round during the fighting, Sumner gained the nickname Bull Head. That August, he oversaw American reserve forces during the Battles of Contreras and Churubusco before being brevetted to colonel for his actions during the Battle of Molino del Rey on September 8. Edwin V. Sumner - Antebellum Years: Promoted to lieutenant colonel of the 1st US Dragoons on July 23, 1848, Sumner remained with the regiment until being appointed military governor of the New Mexico Territory in 1851. In 1855, he received a promotion to colonel and command of the newly-formed US 1st Cavalry at Fort Leavenworth, KS. Operating in the Kansas Territory, Sumners regiment worked to maintain peace during the Bleeding Kansas crisis as well as campaigned against the Cheyenne. In 1858, he assumed command of the Department of the West with his headquarters at St. Louis, MO. With the beginning of the secession crisis following the election of 1860, Sumner advised president-elect Abraham Lincoln to remain armed at all times. In March, Scott directed him to escort Lincoln from Springfield, IL to Washington, DC. Edwin V. Sumner - The Civil War Begins: With the dismissal of Brigadier General David E. Twiggs for treason in early 1861, Sumners name was put forward by Lincoln for elevation to brigadier general. Approved, he was promoted on March 16 and directed to relieve Brigadier General Albert S. Johnston as commander of the Department of the Pacific. Departing for California, Sumner remained on the West Coast until November. As a result, he missed the early campaigns of the Civil War. Returning east, Sumner was selected to lead the newly-formed II Corps on March 13, 1862. Attached to Major General George B. McClellans Army of the Potomac, II Corps began moving south in April to take part in the Peninsula Campaign. Advancing up the Peninsula, Sumner directed Union forces at the inconclusive Battle of Williamsburg on May 5. Though criticized for his performance by McClellan, he was promoted to major general. Edwin V. Sumner - On the Peninsula: As the Army of the Potomac neared Richmond, it was attacked at the Battle of Seven Pines by General Joseph E. Johnstons Confederate forces on May 31. Outnumbered, Johnston sought to isolate and destroy the Union III and IV Corps which were operating south of the Chickahominy River. Though the Confederate assault did not materialize as initially planned, Johnstons men put Union troops under heavy pressure and ultimately flanked the southern wing of IV Corps. Responding to the crisis, Sumner, on his own initiative, directed Brigadier General John Sedgwicks division across the rain-swollen river. Arriving, they proved critical in stabilizing the Union position and turning back subsequent Confederate attacks. For his efforts at Seven Pines, Sumner was brevetted to major general in the regular army. Though inconclusive, the battle saw Johnston wounded and replaced by General Robert E. Lee as well as McClellan halt his advance on Richmond. Having gained the strategic initiative and seeking to relieve pressure on Richmond, Lee attacked Union forces on June 26 at Beaver Dam Creek (Mechanicsville). Beginning the Seven Days Battles, it proved a tactical Union victory. Confederate attacks continued the next day with Lee triumphing at Gaines Mill. Beginning a retreat toward the James River, McClellan complicated the situation by frequently being away from the army and not appointing a second-in-command to oversee operations in his absence. This was due to his low opinion of Sumner who, as senior corps commander, would have received the post. Attacked at Savages Station on June 29, Sumner fought a conservative battle, but succeeded in covering the retreat of the army. The following day, his corps played a role in the larger Battle of Glendale. In the course of the fighting, Sumner received a minor wound in the arm. Edwin V. Sumner - Final Campaigns: With the failure of the Peninsula Campaign, II Corps was ordered north to Alexandria, VA to support Major General John Popes Army of Virginia. Though nearby, the corps technically remained part of Army of the Potomac and McClellan controversially refused to allow it to advance to Popes aid during the Second Battle of Manassas in late August. In the wake of the Union defeat, McClellan took command in northern Virginia and soon moved to intercept Lees invasion of Maryland. Advancing west, Sumners command was held in reserve during the Battle of South Mountain on September 14. Three days later, he led II Corps onto the field during the Battle of Antietam. At 7:20 AM, Sumner received orders to take two divisions to the aid of I and XII Corps which had become engaged north of Sharpsburg. Selecting those of Sedgwick and Brigadier General William French, he elected to ride with the former. Advancing west towards the fighting, the two divisions became separated. Despite this, Sumner pushed forward with the goal of turning the Confederate right flank. Operating with the information on hand, he attacked into the West Woods but soon came under fire from three sides. Quickly shattered, Sedgwicks division was driven from the area. Later in the day, the remainder of Sumners corps mounted a series of bloody and unsuccessful assaults against Confederate positions along a sunken road to the south. In the weeks after Antietam, command of the army passed to Major General Ambrose Burnside who began reorganizing its structure. This saw Sumner elevated to lead the Right Grand Division which consisted of II Corps, IX Corps, and a division of cavalry led by Brigadier General Alfred Pleasonton. In this arrangement, Major General Darius N. Couch assumed command of II Corps. On December 13, Sumner led his new formation during the Battle of Fredericksburg. Tasked with frontally assaulting Lieutenant General James Longstreets fortified lines atop Maryes Heights, his men moved forward shortly before noon. Attacking through the afternoon, Union efforts were repulsed with heavy losses. Continued failures on the part of Burnside in the following weeks saw him replaced with Major General Joseph Hooker on January 26, 1863. The oldest general in the Army of the Potomac, Sumner asked to be relieved shortly after Hookers appointment due to exhaustion and frustration with infighting among the Union officers. Appointed to a command in the Department of the Missouri shortly thereafter, Sumner died of a heart attack on March 21 while in Syracuse, NY to visit his daughter. He was buried in the citys Oakwood Cemetery a short time later. Selected Sources Territorial Kansas: Edwin V. SumnerCivil War: Edwin V. Sumner Civil War Reference: Edwin Sumner

An Analysis of Youth Voter Turnout in the UK Dissertation

An Analysis of Youth Voter Turnout in the UK - Dissertation Example In order to effectively interpret and analyse low voter turnout in Britain this dissertation draws on the voter surveys conducted by the, the Electoral Commission, British Election Study (BES) and Ipsos MORI before and after general elections and a number of empirical research studies conducted over time. Thus secondary sources are used because they provide a more realistic representation of youth voter turnout over a long period of time among a larger representative population sample using both quantitative and qualitative analyses. A single empirical study would only be able to cover a small population sample of voters in a single location, who may vote or not vote in upcoming elections. Secondary studies identify youth who failed to vote in past elections and trends indicating that young people are becoming increasingly alienated economically, socially and politically as well as generally disenchanted with democracy in Britain. Table of Contents Abstract 3 Table of Contents 4 Part I: Introduction to the Study 5 I.Introduction 5 II.Research Questions 6 IV.Significance of the Study 8 V.Research Methodology 8 VI.Organization of the Study 9 Part II: A Review of the Literature 10 I.Introduction 10 II.Evidence of Young Voter Turnout 10 A.Global Trends 10 B.Youth Voting Trends in Britain 13 III.Explaining the Youth Voter Turnout Downward Trajectory 14 IV. Previous Studies 18 Part IV: Young Voter Turnout Trends in Britain 21 Part V: Research Findings/Conclusion 24 Bibliography 27 Table of Figures Figure 1: Global Voter Turnout From 1945-2005.......................................................11 Figure 2: Voter Turnout by Age in 15 Western European Democracies.....................13 Figure 3: Nonvoters by Age Group from 1964-2005...................................................22 An Analysis of Youth Voter Turnout in the UK Part I: Introduction to the Study I. Introduction It is generally accepted that youth voter turnout in the UK is significantly lower than th e voter turnout for older cohorts (Parry, Moyser & Day, 1992; Heath & Park, 1997; Jowell & Park, 1998; Keaney & Rogers, 2006). Although voting trends in general are on the decline, younger voters’ turnout is declining at a more alarming rate than older voter turnout. A poll conducted by MORI in coordination with the Electoral Commission in 2001 concluded that 24% of voters between the age of 18 and 24 reported that they have never voted while only 6% reported having ever voted (Ipsos MORI, 2002). Another survey conducted in 2005 found that although 75% of register voters over the age of 65 voted, only 37% of younger voters voted (Keaney & Rogers, 2006). The British Election Study (1997) revealed that only 56% of young voters between the age of 18 and 24 turned out to vote in the British General Election in 1997. The British Election Study (2005) also reported that less that 48% of registered 18-24 year old voters turned up to vote in the 2005 British General Elections compare d to 75% of older voters. The Electoral Commission (2002) provides some insight into the declining trends among young voters in terms of voter turnout. Using data from an Ispos MORI survey, the Electoral Commission (2002) concluded that there were two primary factors influencing young voter

The future of natural medicine Essay Example | Topics and Well Written Essays - 2500 words - 1

The future of natural medicine - Essay Example The future of heÐ °lth cÐ °re Ð °nd medicine cÐ °n not be predicted, but it will certÐ °inly be developing into Ð °n InformÐ °tion Ð °ge, evolving in itself. PÐ °rticulÐ °rly, the medicÐ °l services will be delivered through the Internet Ð °nd other innovÐ °tive meÐ °ns of communicÐ °tion providing quÐ °lity Ð °nd cÐ °re whenever Ð °nd wherever needed. In the following pÐ °per I will discuss the future of nÐ °turÐ °l medicine emphÐ °sis on e-medicÐ °l services. I will Ð °lso tÐ °lk Ð °bout conventionÐ °l medicine Ð °nd its plÐ °ce in the future of heÐ °lth cÐ °re. E-medicine refers to the use of telecommunicÐ °tion thÐ °t provides medicÐ °l informÐ °tion Ð °nd services. It mÐ °y be Ð °s simple Ð °s two heÐ °lth professionÐ °ls discussing Ð ° cÐ °se over the telephone, or Ð °s sophisticÐ °ted Ð °s using sÐ °tellite technology to broÐ °dcÐ °st Ð ° consultÐ °tion between providers Ð °t two distÐ °nt locÐ °tions, using videoconferencing equipment.† (Gustke et Ð °l., 20000) The simplest definition of E-Medicine is thÐ °t it uses multimediÐ ° technology (voice, video Ð °nd dÐ °tÐ °) to deliver medicÐ °l services. The lower cost of bÐ °nd- width Ð °nd improvement in video Ð °nd dÐ °tÐ ° compression stÐ °ndÐ °rds hÐ °ve increÐ °sed the number Ð °nd types of medicÐ °l services thÐ °t cÐ °n be delivered from Ð ° distÐ °nce to include virtuÐ °lly every speciÐ °lty. E-Medicine is Ð °n Ð °pplicÐ °tion Ð °nd not Ð ° technology. It uses Ð ° hybrid technology incorporÐ °ting elements of television, telecommunicÐ °tion, computers, engineering Ð °nd medicine. Services cÐ °n be delivered on Ð ° combinÐ °tion of technologies with Ð ° vÐ °riety of equipment. The objective of E-medicine â€Å"is not Ð °n evolutionÐ °ry concept but Ð ° revolutionÐ °ry concept Ð °nd Ð °t the heÐ °rt of every revolution, there is the need for Ð ° sudden mÐ °ssive chÐ °nge, Ð °t the core of which is the humÐ °n mind.† (Merrell, 2004). E-medicine in the future will bring mÐ °ny benefits to

The Adventures of Huckleberry Finn by Mark Twain Essay Example for Free

The Adventures of Huckleberry Finn by Mark Twain Essay In The Adventures of Huckleberry Finn Mark Twains characters play an intricate roll in the literary structure of the book. They come into Huck and Jims life almost like the changing wind, and changed their characters indefinitely. The character that I found interesting was Colonel Sherburn who is the owner of the largest store in a town that Huck happens upon. The town Huck ventures into a town that is in the middle of a festival; all the families have their wagons and are eating their dinners in them. During their dinner many begin to drink whiskey very heavily and Huck saw three fights. Then the town drunk, Mr. Boggs ventures into the town for his monthly drink and that every one expected but did not fear what he would do. On man says, I whisht old Boggsd threaten me, cuz then Id know I warnt gwyne to die for a thousan year. (Twain143) This just goes to show that the town had been through this whole routine before; they even knew whom Boggs was going to chaw up. Boggs announced to every one that had now begun to follow him, that he could not waist his time with them because he was there to kill Colonel Sherburn. So, he marched right up to the front Sherburns store and demanded that he come out and meet the man youve swindled. (Twain 143) Boggs then continued to call Sherburn every offensive remark he could think of while even though he was under the influence. Then comes Sherburn, a proud-looking man who carried himself very well, so well that when he stepped out onto the steps of the store the crowd steps back almost in awe. He was about fifty-five and was the best-dressed man in that town, he wore Mark Twains later look of all white. Then he warns Boggs to leave by one oclock or he will hunt him down and make sure we will not bother him or the town again. Boggs could not let it go so he returned and sure enough Sherburn steps out into the street and shoots him and kills him. The angry mob goes to Sherburns house and thought that he ought to be lynched because he murdered Boggs in cold blood. Sherburn doesnt believe they have enough pluck to lynch him and he knows that a mob of angry men mean nothing. He says, Why, a mans safe in the hands of ten thousand of your kind-as long as its day-time and youre not behind him. (Twain 147)Â  He refers to the Ku Klux Klan or a similar organization that was formed in the south and they wear masks when the commit their crimes. He knows that wearing a mask and only going out at night is the only way for them to commit their crimes because they are cowards. A mob is nothing with out a solid leader and Sherburn knows this that is why he doesnt feel threatened by them. This characters roll in the novel is to show that one single man can stand up to an any mob and be stronger than them if he is confident in what he believes. Sherburn believed that he did the right thing and that is why he doesnt back down even when he is faced up against staggering odds. Huck sees all of these events unfold but doesnt seem troubled by them because right after the mob leaves he goes to the circus. This shows that he is still a child and that the only way to get this out of his mind is to go somewhere were everyone is forever young. Twain often fevers to the idea of forever child hood and he doesnt want his characters to grow up. That is why he places a horrific scene of death next to childlike scene at the circus showing a great contrast. Twain has a brilliant way of keeping the character young but he still lets it grow emotionally.

Lum and Abner Essay -- essays research papers fc

Lum and Abner   Ã‚  Ã‚  Ã‚  Ã‚  What is the first thing you think of when you here of the 1930’s, Amos and Andy or how about Lum and Abner? Lum and Abner weren’t really expected to do anything with their lives; they were just having fun trying to make something of them selves. They became two of the most famous people from Polk and Montgomery counties: Chet Lauck- Lum, Norris Goff- Abner, and the history of Lum and Abner. Chester Lauck was born in Alleene, Arkansas, February 2, 1902. (Alleene, Arkansas)(www.mu.net/stemple/page1.htm) His parents were W.J. and Cora Lauck. (Cate, Micheal, 190) Chet moved to Mena in 1911, where he met Norris Goff. They became very good friends. Chet lived on Port Arthur Avenue in Mena. His father owned the sawmill and was the Union Bank president. Chet went to Mena high school. He played baseball, basketball, football, and track. He had two older brothers and one younger sister. He graduated from high school in 1920. After high school, Chet went to the University of Arkansas and got a degree in advertising. He was the co-editor of the University’s humor magazine and was a Razorback cheerleader. After the University of Arkansas, he went to study at Chicago Institute of Fine Arts. (Stucker, Kathryn Moore) In 1926, Chet married Harriet Wood. He had three children: Shirley, Nancy, and Chet Jr.   Ã‚  Ã‚  Ã‚  Ã‚  Norris Goff was born in Cove, Arkansas, May 30, 1906. (www.me.net/stemple/ page1.htm) His parents were Rome and Dora Goff. (Cate, Micheal, 190) He lived on Reine Street. His father worked as a wholesale grocer. (Williams, Troy, 70) When Norris was in high school, he was quarterback for the football team. He graduated in 1924. He then went to the University of Arkansas and the University of Oklahoma. After college he worked at his fathers’ company. In 1929, Norris married Elizabeth Bullion. They had a boy, Gary, and a girl, Gretchen. (Stucker, Kathryn Moore)   Ã‚  Ã‚  Ã‚  Ã‚  Waters was the name of the town Chet and Norris got started in. Waters sounded like a swamp so they changed the name of the town to Pine Ridge, because of the woods and valleys of the Ouachitas. In Pine Ridge there was a sawmill, post office, blacksmith shop, gristmill, and other necessary services to the farm community. The community started in the early 1900’s. Lauck and Goff lived close to each other. &... ...ette Tips from Abner Peabody.† Online. Internet. Available (4 Nov. 1999). â€Å"Lum and Abner.† Online. Internet. Available (4 Nov. 1999). â€Å"Lum and Abner.† 1998. Online. Internet. Available (30 Sept. 1999). â€Å"Lum and Abner.† Online. Internet. Available (1 Nov. 1999). â€Å"National Lum Abner Society home page.† Online. Internet. Available (30 Sept. 1999). â€Å"National Lum Abner Society home page.† Online. Internet. Available (30 Sept. 1999)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"Overview.† Online. Internet. Available (4 Nov. 1999).

Restaurant satisfaction Essay

Restaurant Customer Satisfaction Surveys Can Keep Your Customers Coming Back Keep your customers coming back and recommending your restaurant to others with help from restaurant customer satisfaction surveys. Restaurant customer satisfaction surveys give you quantitative insight into the opinions and attitudes of your customers. You’ll obtain facts about what they want, what they expect, and if they plan to return to your restaurant again. If results show that your restaurant does not meet your customers’ expectations, you’ll know exactly what areas to target for improvement. Whether you own a fast-food restaurant, a dine-in establishment, or a chain of restaurants, Infosurv’s restaurant survey measuring customer satisfaction can provide you with valuable data you can use to make better business decisions. Gauging satisfaction with a restaurant customer survey can tell you about the demographics of your customers as well as give you insight into what they really think about: Food quality Menu selection Menu pricing and value Waiting times Promptness of service Professionalism and friendliness of server(s) Server’s knowledge of menu Decor Restaurant location Overall restaurant experience By assessing the wants and needs of customers – and then acting upon them – restaurants have continually found that satisfaction surveys encourage: Repeat business Positive feelings towards the restaurant because they showed that they cared about customer opinions Increased recommendations by current customers Increased spending within the restaurant Whether you need a restaurant satisfaction survey designed from scratch exclusively for your customers, or have an existing survey that needs to be administered, Infosurv takes extraordinary measures to ensure validity, reliability and bias reduction. Our goal is to help you compose a highly relevant survey instrument that will yield sound and valid conclusions while achieving the maximum survey response rate possible. Learn More About Restaurant Customer Satisfaction Surveys From Infosurv To learn more about restaurant customer satisfaction surveys and the Infosurv Experienceâ„ ¢ please download our brochure. What Makes Customer Satisfaction Research Useful? Capture customer feedback and use the data to set business priorities. Mar. 25, 2008By Marian Singer, partner, FiveTwelve Group Ltd. Much has been written in the last couple of years about the promise of customer satisfaction research (CSR) to improve performance or shorten development cycles for businesses and organizations. This work is particularly germane in North America, where growth in many industrial and commercial markets is peaking and companies are scrambling for competitive advantage. The concept is simple: capture customer feedback and use the data to set business priorities. Customer satisfaction data is routinely gathered to support continuous improvement programs like TQM, ISO and Six Sigma. The answers to the questions â€Å"How are we doing? † and â€Å"What should we do better? † are the building blocks of a customer relationship based on measurable value. Answered correctly, they track improvements in the business relationship and identify areas for improvement. However, translating the answers into meaningful actions is difficult. The issue is not whether or not you are getting information about customer satisfaction; it is whether or not you are using information about customer satisfaction to act differently. Generally, two factors cause weak CSR: uninvolved stakeholders and useless data. Let’s explore what makes CSR useful. An engineered products manufacturer had recently been purchased by investors seeing promise in their technological leadership. Research was commissioned to help the new team understand current satisfaction and long term business durability. They were shocked to find that more than 90% of the business was at risk. While sales teams showcased and closed many initial orders, lengthy start-ups, late shipments and poor quality pushed customers away once they had adopted the technology. The manufacturer was, in essence, training customers to prefer the technology on behalf of their competition. Employees were frustrated too. They had heard complaints but hadn’t digested the consequences. Out of necessity, they assumed ample supply of new customers to replace the disgruntled ones. The costs associated with lost business hadn? t been clear. The team dove into the research, put answers into context, mined new feedback, and made survey adjustments even while they collected more information. They isolated common themes, asked why, and tested actions steps to recover the business. In the end, improved communication systems solved internal conflicts and kept customers in the loop. Investments in new secondary operations simplified customers’ processes and improved predictability. With these changes, the manufacturer was able to recover tenuous relationships, improve its pipeline and the satisfaction of its customers and employees in about a year. Today, the company monitors satisfaction routinely, taking care to not only benchmark against previous year’s performance but to test new ideas and gain a clearer understanding of the feedback it receives informally. So, how to ask the question â€Å"How are we doing and what should we do better? † When a business process like the collection of satisfaction data hardens into concrete steps, it loses flexibility, become sterile and impractical and as a result, can erode value. When data collection is exercise in scoring, ranking, and polling, it blocks inspiration, the creative process, decision-making, relationship-building and new learning that comes from effective listening. Weak CSR: Is a static process: A survey of customer satisfaction done once is a popularity contest. Done over time it can be a tool for decision-making, because it can show progress or setbacks. However, if you ask the same customers the same questions, year after year, eventually they are going to ask you to stop. It is very important to evaluate customer satisfaction routinely, to expose changes, but it is equally important to change it up to test new ideas, show responsiveness and build better relationships over time. Customer satisfaction is dynamic. The CSR process should be too. Ignores Context: Most CSR surveys assign a subjective value to tasks or functions like delivery, development, sales management, or customer service. If, however, the satisfaction score isn’t understood in terms of its relative importance to the customer, it is difficult to see impact on business health. For example, a customer might state that their satisfaction with pricing levels is relatively low — say a 3 on a 7 point scale. Without context, a natural reaction might be to re-examine pricing policies — and those of competitors — to look for guidance. If, however, pricing scored low in terms of importance in comparison to lead-time, a supplier would know that improvements in delivery could dampen the need for reactionary discounting. By knowing the context in which attributes are evaluated, suppliers can better allocate efforts, grow sales and save margin. Before asking â€Å"How we are doing? † CSR should first establish the importance of an attribute in order to provide context. Is Quantitatively Biased: CSR surveys are often biased by the preponderance of closed questions like force ranked lists and 1-7 scoring. Learning about low satisfaction with service may be informative, but investing the time to uncover ideas for improvement is what is crucial to improving a customer relationship. To illustrate, a customer with little tolerance for late deliveries may score delivery as important but add that a simple call to reschedule would satisfy. Without this background, a manufacturer might have invested to retool, having overestimated the hazard. Always ask â€Å"Why? † Keys to Success Treat customer satisfaction as philosophy It’s counter to think that something as fundamental as listening to customers should be institutionalized, but in these days of consolidation and distant markets, it is absolutely necessary. As the knowledge economy continues to evolve, we see that high performers are distinguished by continuously improving CSR processes that get as much attention from process experts as LEAN or Six Sigma. A good first step is to view CSR not as a project thrown over the wall to the new MBA intern, but instead, as a philosophy of listening and interacting with customers. Design CSR that can flex and learn, like people do It’s also counter to think that CSR should be designed to flex with what is known at the moment, but this is actually a sign of effective learning and communication, which are the key ingredients to usefulness. The ability of a research team to make changes along the way depends on whether they see and understand the trends early enough. The important factors determining CSR success are not sample size or repetition, but research transparency and the volume of critical thinking done during the project. Act Small CSR exists because companies are big. The complexities that are introduced when groups enlarge encumber simple activities like listening, thinking and doing. But these are the activities that create value and wealth. To make them simple again, build a great CSR process to do the basic, smart things that entrepreneurs are forced to do. It’s Never the Data If you ask â€Å"How are we doing and what should we do better? † tomorrow, the answers that you get will be different than the answers you got yesterday. The most important ingredient to CSR is the action that you take with what you learn, and the ability of the customer to see and feel value from those actions. Marian Singer is a partner at FiveTwelve Group, Ltd. , a research and consulting firm that works to improve way that businesses, investors and member organizations listen to their customers and markets and how they act on what they learn. www. fivetwelvegroup. com http://www. industryweek. com/companies-amp-executives/what-makes-customer-satisfaction-research-useful Customer Satisfaction Survey By F. John Reh We all know customer satisfaction is essential to the survival of our businesses. How do we find out whether our customers are satisfied? The best way to find out whether your customers are satisfied is to ask them. When you conduct a customer satisfaction survey, what you ask the customers is important. How, when , and how often you ask these questions are also important. However, the most important thing about conducting a customer satisfaction survey is what you do with their answers. How You Ask Whether Customers Are Satisfied There are many ways to ask your customers whether or not they are satisfied with your company, your products, and the service they received. You can ask them: Face-to-face As they are about to walk out of your store or office, ask them. Call them on the phone If you have their phone number, and their permission, you can call them after their visit and ask how satisfied they are. Mail them a questionnaire This technique has been used for a long time. The results are predictable. Email them a customer satisfaction survey Be careful to not violate Spam laws Email them an invitation to take a customer satisfaction survey When To Conduct A Customer Satisfaction Survey The best time to conduct a customer satisfaction survey is when the experience is fresh in their minds. If you wait to conduct a survey, the customer’s response may be less accurate. He may have forgotten some of the details. She may answer about a later event. He may color his answers because of confusion with other visits. She may confuse you with some other company. What To Ask In A Customer Satisfaction Survey There is a school of thought that you only need to ask a single question in a customer satisfaction survey. That question is, â€Å"will you buy from me again? † While it is tempting to reduce your customer satisfaction survey to this supposed â€Å"essence†, you miss a lot of valuable information and you can be easily misled. It is too easy for a customer to answer yes to the â€Å"will you buy from me again? â€Å", whether they mean it or not. You want to ask other questions in a customer satisfaction survey to get closer to the expected behavior and to collect information about what to change and what to keep doing. By all means ask the basic customer satisfaction questions: How satisfied are you with the purchase you made (of a product or service) How satisfied are you with the service you received? How satisfied are you with our company overall? And ask the customer loyalty questions† How likely are you to buy from us again? How likely are you to recommend our product/service to others How likely are you to recommend our company to others. Also ask what the customer liked and didn’t like about the product, your service, and your company. How Often Should You Conduct A Customer Satisfaction Survey The best answer is â€Å"often enough to get the most information, but not so often as to upset the customer†. In real terms, the frequency with which you conduct a customer satisfaction survey depends on the frequency with which you interact with your customers. My state renews drivers licenses for five-year periods. It would be silly for them to ask me each year what I thought of my last renewal experience. Conversely, if I survey the commuters on my rapid transit system once a year, I will miss important changes in their attitudes that may be driven by seasonal events. What To Do With Answers From A Customer Satisfaction Survey Regardless of how I ask my customers for their feedback, what I ask them in the customer satisfaction survey, and when I survey them, the most important part of the customer satisfaction survey is what I do with their answers. Yes, I need to compile the answers from different customers. I need to look for trends. I should look for differences by region and/or product. However, I most need to act on the information I get from my customers though the survey. I need to fix the things the customers have complained about. I need to investigate their suggestions. I need to improve my company and product in those areas the mean the most to the most of my customers. I need to not change those things that they like. Most importantly I need to give them feedback that their answers were appreciated and are being acted upon. That feedback can be individual responses to the customers if appropriate, or it can simply be fixing the things that they tell you need to be fixed. What’s Next in Customer Satisfaction Surveys?

Marketing Topics

KANCHAN AHUJA Lily Villa, 12th Road, Chembur, Mumbai – 400 071 Phone Nos: (R)022- 25217372 (M) 98207 10041 Email : [email  protected] com Currently persuing Masters in management from K J Somaiya Institute of management Batch – 2008-2011 Objective: To secure a challenging and rewarding position within a reputable company offering personal development opportunities based on performance. Work Experience: HSBC Bank : Designation: Premier Service Manager Nov 2005 – Aug 2007 Job Role: Portfolio management of Premier Customers. Growing and deepening customer relationships through effective relationship management, with special focus on the analysis and satisfaction of Customers’ financial as well as investment needs and objectives. |Profile: | | | |†¢ Sales – Going on sales calls to existing as well as new customers to deepen relationships and obtain referrals to source new | |business for purpose of achieving business targets. | | | |†¢ Analytical Skills- Identification of opportunities and managing relationships with top bank customers for cross selling | | |to the client through sales of liability products (savings, current accounts and term deposits) as well as third party | | |products like Mutual Funds, Insurance (Life & General) | | |†¢ Customer Service – Ensure excellent service delivery by maintaining TAT for Client queries, proactive service | |interactions with Clients. | | |†¢ Record keeping – Update the client details and map all client relatio nships to arrive at household / family relationship | | |value size at any point in time. | | |†¢ Time management – Accurate and timely reporting of documentation and deliverables for all new client acquisitions on a | | |weekly basis. | | |†¢ Co-ordination-Liaising with product and ops teams to ensure compliance of process flows and documentation. | | |†¢ Provide research on investment patterns for clients and arrive at an opportunity sheet. | |†¢ Operations – Handling outward and inward remittances | Aviva Life Insurance India Pvt Ltd. (March 2005 – Nov 2005) Designation: Manager Sales Private Banking & Assets Team (ABN AMRO BANK) A very short stint wherein I was responsible for sales of life insurance plans to the Private banking clients and the credit card holders of ABN AMRO Bank through my sales team of 8 members. Expertise – CONVERTING LEADS, TEAM MANAGEMENT and CO-ORDINATION Standard Chartered Bank. (15th May 2003 –31st October 2004) Designation: Personal Financial Consultant – Retail Banking Division Profile:Sales ? Achieving the Targets set in terms of product mix and the budgeted cross sell targets. ? Focus on revenue generating products for the bank mainly Insurance and Mutual Funds. ? Housing loan leads to be generated and forwarded to the Executives and ensuring constant follow ups with the loan team and the customers ensuring smooth flow and closure of deals. ? Being the Housing loan champion constant follow-ups with the fellow team for leads and successful closures. ? Updating & maintaining all Sales MIS (Calls, Prospects, Attritions, etc. Relationship Management ? Providing the BEST CUSTOMER SERVICE to the existing customers. This would include ensuring resolution / best possible solution to the queries raised, resulting in the customer retention within the set guidelines of my company. ? Establishing relations with new customers by introducing all the products (Asset and Liability products) ensur ing lasting relationship with the bank. ? Generating new business to achieve defined sales targets. ? Building and deepening relationships with existing Customers to achieve increase in share of wallet and revenues. Providing professional customer service to achieve a high percentage of customer satisfaction and retention. ? Managing the portfolio to de-risk against attrition and achieve stability of book. ? Having complete knowledge of the customer base in terms of the profile, demographics & psychographics and assets in the Bank and in other places. Baazee. com (I) Pvt. Ltd: 9th March 2000 – 9th May 2003 (3 years) Designation : Sr. Customer Service Executive Reporting : CFO and Asst. Manager Collection. Purpose : To ensure the Company’s Best Interest and its Customers are protected at all times. As a customer Service executive I am responsible for maintaining defined personal standards and operating economically and efficiently in the pursuit of the following. Job Profile: †¢ Team management and training. †¢ Weekly / monthly MIS generation. †¢ Regular update to the management in order to understand, modify and streamline processes improving customer experience online followed by implementation. †¢ Query handling, Customer satisfaction and retention. †¢ Administration of TALISMA, an e-CRM Solution. Creating standard responses and Work Flow for Customer Care Team. †¢ Revenue Capture. †¢ Conducted Surveys and Generating reports relating to Customer Satisfaction, Ratio of fulfillment on regular basis, changing trends and addressing customer concerns. †¢ Consistently monitoring Vendor Performance based of parameters of service levels, fulfil lment ratio. Achievements: †¢ Solely Handled NATIONAL PROMOTIONS â€Å"November Dhamaka 2000†and IT Festival for August- September 2001, End-to-End Process. Including Uploads of auctions, pre and post closure procedures and fulfillment of auctions. Handled multiple tasks at a time efficiently and with Good Results. The tasks included logistics; Image editing for uploads on the site, quality assurance of the data uploaded on the site, Resolving assigned mails in Talisma within the stipulated period. †¢ Overachieved Revenue targets consistently. †¢ Provided suggestions for the processes being followed internally, which have been appreciated and incorporated as a standard processes within the team. †¢ Assisted in Developing Mobiles, IT and Travel categories resulting in high number of fulfillment (Sales). Awarded as the Best Customer Care Executive and Employee for the Year 2000 and 2001. Based on Online Research carried through Out calling and day to day cus tomer interactions gathered valuable insights, which have now been incorporated in the website design. Anchor Holidays Pvt. Ltd (Time Share group): December 1999 till February 2000 Designation : Customer Service Executive Responsibilities: †¢ Provide information about the available packages and various schemes. Accommodate a suitable package for different customers, as per the budget requirement. Proactive Calls to members updating them about the latest schemes and offers. †¢ Keeping a track of benefits / holidays utilized by the customer during the validity period. Qualifications – Graduated from Mumbai University-Year 1999(H. R College Of Commerce & Economics) Personal Information Date of Birth: 14th October 1978 Marital Status: Married ( Dec ‘ 04 ) Spouse : Advocate Vishal Puri References: Mr. Anupam SanghaviMr. Sai Pratyush Siesta Hospitality Services Pvt LtdQuotrro BPO Solutions Chief Operating officerGeneral Manager Phone: (M) 98200 01858 ; 9987204401Pho ne: (M) 9910225558 KANCHAN AHUJA.

How to transform your teams communication skills

How to transform your teams communication skills A catalogue for transforming communication skills Writing is one of those work activities that we just assume we can do. So much so that its not even something we tend to give much thought to. Yet in the last decade or two, its silently taken over our working lives. Email alone accounts for a staggering four hours of an average workers day, according to a recent survey by Adobe of more than 4,000 workers across Europe and the US. And thats before theyve even begun to include bids, slide decks, reports, letters, procedures or policies. But how many of those communications engage their audience and get results? And how many damage relationships that then take months to repair (if they ever are)? It only takes a moments thought to realise that few skills are more important today than the ability to communicate well. We’re here to help You may know us from our regular business-writing tips and blog posts. You might have already been on an Emphasis business-writing course, either as an individual or with your company. Or maybe you’ve downloaded a copy of The Write Stuff: our free, comprehensive guide to business writing. However, you might not be aware of the full range of training services we offer that can bridge this critical skill gap. This includes our unique, pre-course writing analysis, which shines a spotlight on the documents you or your team produce, and reveals which areas are the priorities to improve. We have just the course for you To help you, we’ve created an interactive PDF guide to our services, which includes not just business writing but also communication skills courses. For example, we have created a new and innovative presentation skills course, The reluctant presenter. Its aimed at people who have a deep fear of presenting, and is delivered by trainers who have overcome their own fears and can share their secrets. We’ve also developed the worlds most comprehensive online business-writing course, called Emphasis 360. To learn more about any of our programmes, and how they can help transform your teams (or your own) communication skills, download a copy of our course catalogue now. You can also call us on +44 (0)1273 732 888 for a chat with one of our friendly team. Image credit: Rawpixel.com / Shutterstock

How to Pick Essay Topics

How to Pick Essay Topics Read how to choose essay topics that will best match your assignment and interests. How to Pick Proper Essay Topics for College Ok, so you’ve been given an essay writing assignment and were given the freedom of picking the essay topic on your own. At first, the idea of being able to choose any topic you want seemed attractive, but then you got lost in the options, right? This is a common situation. As a rule, it’s happening due to the fact that topic selection process gives you so many options that you can easily get lost in them without a proper approach. This article, therefore, will provide a basic breakdown of a topic selection process. It will not review cases when you have been already given a topic  but will focus solely on situations when you need to pick one. It would be logical to assume that you already know what subject is the essay needs to be written in – if you receive an essay writing assignment in your Literature class, your essay will focus on Literature; a Philosophy class, in turn, will require a paper about some philosopher and so on. Step One: Determine Your Essay Type Before starting to write or even selecting an essay topic, you need to consider what kind of paper you want to have at the end of the writing process. Speaking of essays, there is a whole range of essay subtypes, e.g. argumentative, persuasive, informal etc. Each of the essay subtypes requires a special approach. This article is about various essay types, you might want to check it out while preparing for essay writing: Essay Types Different types of essays may impose different requirements on the essay writing process as well as essay topics selection. For example, an argumentative essay will require that you select a rather controversial topic; otherwise, the reader will find the essay not so interesting to read. A comparative essay, in turn, requires that your essay topics introduce  two items that are going to be compared: pieces of literature, art, schools of thought etc. We have put together a short list of best  argumentative essay topics and compare and contrast essay topics, hope you find some of them useful. Step Two: Brainstorm You won’t go far in writing your essay without actually brainstorming for essay ideas that can be written about. Brainstorming for the possible essay topics can be turned into a quite simple and straightforward process. Before beginning to search for essay ideas, ask yourself a few simple questions within a chosen subject: Within the given subject, what aspects do I like most? (e.g. While selecting topics for a Philosophy paper I feel most attracted to Hegel’s school of thought). Why do you find this topic interesting? (e.g. Because I consider the four concepts of Hegelian Dialectics one of the greatest ideas in Philosophy) Do you have access to literature on the chosen essay topics? (e.g. There’s plenty of information on Hegel’s Dialectics at our local library; there is even more available online). Step Three: What Is Interesting for You? The bottom line is – when selecting a topic for your essay think about those topics that are of most interest to you. This approach ensures that you will have chosen essay topics that inspire you and give you the energy and enthusiasm to work on your paper and complete it successfully. Another point to consider is the availability of information on the topic – if the information is readily available, writing a quality essay would be piece of cake; if it’s not – you might want to look for a different topic. Interesting essay topics require conducting research, analyzing and summarizing the information got during the research. We hope you find these tips for writing topics useful. If, however, you are still struggling to pick an essay topic to write on, our writing professionals are ready to assist you  in accomplishing this task. One of the convenient options we offer our customers is a  free live support. Our support agents will help you in selecting the essay topics. If needed, they can ask our professional writers to come up with essay topics list. You will then have to simply pick one of the offered topics, place your order and wait until the paper is delivered to you. Please feel free to contact our support team at support@ anytime or visit our order page to place your order.

Informational Industry Report Assignment Example | Topics and Well Written Essays - 750 words

Informational Industry Report - Assignment Example Today, globalization has created an aviation industry market where there are an increasing number of airlines, both in the international and domestic that form alliances and invest in each other to form global networks e.g. American Airlines. As the aviation market expands, the more job opportunities are created for individuals who are interested in pursuing employment in Aviation Administration. Air transportation is a key industry that provides major contribution to economic, political, and social progress. The demand for its services, such as transport is driven by needs and desire to attain a specific objective. For instance, air transport can develop economic opportunities to a specific region such as tourism. Demand for airline transport is also motivated by the needs of goods and services offered by the region. Outlook of the industry, the International Transport Association (IATA) asserts, has showed an improved profitability in its economic performance. Accordingly, the collective global net profits of airlines are expected to reach $25.0 billion in 2015. Drivers of Forecast are oil prices, jet fuel prices, economic growth, passenger trends and cargo trends. Jet fuel prices. The benefit of lower fuel prices are not immediately felt because of the forward fuel buying practices of the industry; however costs savings will be realized as soon as time lag is settled. IATA estimated that 26% of industry costs are jet fuel prices. Given that improving fuel efficiency is a priority for airlines, IATA says fuel efficiency has improved by 1.8% in 2014 and more improvements are expected in 2015. Accordingly, fuel efficiency improvements could be done by reducing the 5% of wasted fuel due to air space and airport inefficiencies. Passenger trends. A growth in passenger traffic of 7.0% is expected in 2015, a percentage that is above 5.5% growth of the past two decades. Total passenger numbers are expected to grow by 3.5 billion and expected airline